The Financial Sector Conduct Authority (FSCA) has fined two individuals a combined R2.1 million and permanently debarred them for conducting unauthorised forex trading activities.
According to the FSCA, the individuals misled clients by presenting themselves as legitimate forex traders while operating without the required approval under the Financial Advisory and Intermediary Services (FAIS) Act.
The penalties include:
🔹 R1.4 million administrative fine for unlawful financial services
🔹 R700,000 disgorgement penalty
🔹 Full debarment from participating in any regulated financial activities
This enforcement highlights the FSCA’s increasing focus on cracking down on unlicensed trading and protecting consumers from fraudulent operations.
If you operate in the forex, brokerage, or financial services environment, compliance isn’t optional it’s your shield.
CompliShield helps ensure you remain fully aligned with FSCA requirements and avoid costly penalties.